IDBI Bank float

New Delhi, Nov. 6: State-owned IDBI Bank today said it would come out with a follow-on public offer in January to meet its future capital requirements. It also plans to raise $500 million through overseas bonds to fund expansion of some Indian firms. The bank requires about Rs 15,000-16,000 crore in the next three to four years, IDBI Bank chairman Yogesh Agarwal said.

Tata Steel

New Delhi, Nov. 6: Tata Steel has witnessed a 38 per cent rise in sales at 4.62 lakh tonnes in October compared with 3.35 lakh tonnes in the corresponding year-ago period on the back of robust demand from the construction sector. There was an 89 per cent increase in the sale of long steel products over the same month a year ago.

Century stake

Calcutta, Nov. 6: The BK Birla group, the promoter of Century Enka, will increase its stake in the firm to 31.39 per cent from 25.23 per cent through preferential allotment. A total of 18 lakh warrants will be issued to the promoter firms, including Century Textiles and Industries.

Tax code bill

Jaipur, Nov. 6: The bill on direct taxes code that seeks to replace the income tax act will be tabled in the winter session of Parliament, revenue secretary P.V. Bhide said.